Autostrade - Concessioni e Costruzioni S.p.A.

Company Deal

Autostrade / IRI: loan agreement $125,000,000

Transaction Type

Loan

Deal Description

Autostrade Concessioni e Costruzioni Autostrade S.p.A. entered into a loan agreement with several banks. The lead banks in the deal were the Chase Manhattan Bank (National Association), the First National Bank of Chicago, Bank of London & South America Ltd., and United California Bank. The maximum aggregate principal amount of the loans was U.S. $125,000,000. The company was to issue notes to the lenders representing the loans. The purpose of the loans was to fulfill the company's financial requirements for construction. The domestic financial market was unfavorable at the time of the deal, which caused the company to look abroad for financial negotiations.